Question

Which of these economic problem deals with technique of production?

Options

• What to Produce

• How to Produce

• For whom to Produce

• None of these

Answer 1

How to Produce

Explanation:

‘How to Produce’ deals with choosing the technique of production, whether labour-intensive or capital-intensive. ‘What to produce’ concerns which goods to produce, and ‘For whom to produce’ concerns distribution.